So , Walmart is announcing:
"We accept bitcoins""From cointrusted addresses only"
What happens if you send coins from not cointrusted addresses ? Returned or confiscated ?  Probably become unspendable unless you send them to some government backed company who will accept and wash the coins in return for a fat percentage (tax) and of course lots of proof of ID. |
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Mike is being naive thinking it will only be used to stop bad guys. We have all seen this before, the filters and restrictions eventually move outwards and infect all areas of a system.
This "redlist" will eventually only allow approved coins that are matched name and address to a government database. In one fell swoop Mike destroys all the positives Satoshi installed in the Bitcoin system.
If the government is not satisfied with your credentials, you will not be allowed to buy things with your coins, the coins will start to have two different values, one value for the government approved coins that can be used to buy things, and another for those dark coins that are no longer useful.
Also no one will have any incentive to accept dark coins because they run the risk of having their business shut down because their wallet got added to the dark coin list by their government.
This will allow the government to trace everyones money, decided what businesses are allowed to do business and quickly destroy the wealth of dissidents and opposition.
My question: Is Mike really this naive?
+100 |
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From the Mike Hearn quote
" When you receive funds that inherit the redlisting, your wallet client would highlight this in the user interface. Some basic information about why the coins are on the redlist would be presented. You can still spend or use these coins as normal, the highlight is only informational. To clear it, you can contact the operator of the list and say, hello, here I am, I am innocent and if anyone wants to follow up and talk to me, here's how. Then the outputs are unmarked from that point onwards"
What an utter load of bollocks.
Nick Nasty has 500 btc in anonymous wallet xyz****** which he earned by spreading the CryptoLocker virus, he sends these to a newly created wallet which are flagged as dirty coins (redlisted) during the confirmation process.
"Hello is that Mike at the Foundation, hi my name is Nick Nulty and I just got some redlisted coins when I sold some junk from my attic to a guy I don't know who came to my house."
"hello Nick, yes this is Mike at the Foundation, ok we've cleared that redlisting for those coins now. They're now whiter than white and you can use them as you like, have a great day. Oh by the way would you like to make a donation and join the Foundation?"
"No thanks Mike, but you have a great day"
Why are clever people so stupid?
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I think that the rapid price rise can only be good for Bitcoin, apart from of course Btc owners seeing their assets increase in value there is the problem of all the hoops to jump through to acquire bitcoins so I would expect more people to accept bitcoins in payment for goods and services.
This expansion of the market place could then encourage people to spend some of their coins for goods without having to worry about the govt. insisting they pay tax on profits earned due to appreciation of their bitcoins, which of course the govt. would know about if exchanging for fiat currencies.
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Having just logged on I see a topic headed "How is DPR securing his wallets from the Feds?" Now I don't know about the rest of you but I don't spend 24 hours a day reading about bitcoin related news and forums and so before I could make any sense of the thread I had to google DPR + "silk road" to find out, the new silk road (SR) owner "is fashioning himself as the "Dread Pirate Roberts," a reference to the book and film The Princess Bride, which the owner of the original Silk Road also used." http://mashable.com/2013/11/06/silk-road-dread-pirate-roberts/ (top google result). Please spare a thought for new forum users and users like myself who only visit every couple of days by giving us a clue as what the initials mean eg Bitcoin Foundation (BF) as i did earlier (SR) somewhere in the beginning of posts. It gives us idiots more time to read and digest posts. |
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I always look to the comments on these articles.
Top Comment at present:
"Nick Taylor • a day ago −
I'm a micro-manufacturer, selling over the internet... have been for about 4 years now.
When I sell things for bitcoins, I can offer a 7% discount - because that's what they save me in paypal and currency-exchange fees.
To people competing tooth and nail, on price on the likes of Alibaba, that's going to be a margin that's impossible to compete with. Once a few people start doing it, everyone there will. The reason we're seeing this latest massive increase in value, is that Chinese people have discovered it - the biggest exchange is now Chinese.
I buy materials / parts etc from China - they all seem to want Western Union, which is expensive, and a massive hassle. Personally I think the biggest exchange being Chinese is a tipping point - the next one is one of the big online markets adopting it. Then it's war I think. The Powers That Be are going to start crapping themselves.
Debt based currency is a massive scam. Banks "make up" money, then lend it to people at interest. How is that different from forgery? It should be illegal.
I don't think bitcoin is the answer to "the currency problem", (because it's still just an artificial scarcity), but it's a step in the right direction for a number of very good reasons.
Personally I think we need a diversity of currencies - probably not state issued ones. At the moment, 'the state' doesn't have the honesty or competence to do anything other than "please try not to touch anything" until we can get some sort of direct-democracy alternative in place."
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I just searched ebay.co.uk for casascius without quotes and got 25 results, all auctions were demoninated in $US.
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Reading further into that article I linked above, I've revised my thoughts on how it could affect bitcoin, I would not be at all surprised if there was some official agency behind Crypto Locker. http://krebsonsecurity.com/2013/11/cryptolocker-crew-ratchets-up-the-ransom/"the service, which is currently hosted at one of several addresses on the Tor anonymity network." Think about it, get enough people talking about this virus and a Govt. agency can associate bitcoins and Tor with criminal activity and give themselves more leverage to insist on "back doors" being built into the Tor network, even making use of it illegal. |
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Doesn't seem all that bad for bitcoin, if anything it will bring bitcoin to the attention of more people. http://krebsonsecurity.com/2013/11/cryptolocker-crew-ratchets-up-the-ransom/“We put up survey and asked how many [victims] had paid the ransom with Bitcoins, and almost no one said they did, Abrams said. “Most paid with MoneyPak. The people who did pay with Bitcoins said they found the process for getting them was so cumbersome that it took them a week to figure it out.” |
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Why did it take almost two years from filing date to publication?
Something smells fishy.
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Fantastic. First I seen of your work but I love em all.
I see the ghost of Frank Zappa in your work, keep it up dude.
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BTC Global North America, LLC.
38134 Memphis, TN
United States How many businesses use just a postcode as a business address. |
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I just looked on ebay and seen loads of (overpriced) BTC for sale.
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That was posted 2 months ago.
Posted: 05/02/2013
Last Updated: 3 hours ago (when the comments were posted)
Um.... I'm pretty sure it's May, and May's the fifth month of the year. Did I miss something? Oops sorry, I'm brit , should have seen that, my mistake.  |
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That was posted 2 months ago.
Posted: 05/02/2013
Last Updated: 3 hours ago (when the comments were posted)
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Bitcoin will remain unregulated. It doesnt matter if people in the community want it regulated or if government(s) want it regulated. Bitcoin, by nature, is unregulated. They cannot seize your btc unless under duress, etc. You are your own bank.
Until the devs fork it and say: "Here is the regulated Bitcoin 2.0 which will be worth 10000USD because of big company involvement, if you don't want use it then use the unregulated Bitcoin 1.0 for illegal activities which will be worth about 2USD." Looking at the majority of people involved in Bitcoin i'd place my money on that everybody would go for 2.0. Of course, the Bitcoin Foundation together with other large companies (paypal, banks etc), will make a plan to slowly manipulate us into believing that a regulated Bitcoin will be much better for everyone. If you ask me, it has already begun. I see Bitcoin moving in this direction. This quote needs to be kept bumped to the top of this thread. |
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It doesn't matter much who's in the 'press section' on the official site. Anyone who wants media attention can start seeking out the media, and the more interviews and appearances anyone gets, the more interested the media will be.
Personally I think both Roger Ver and Jon Matonis are excellent speakers for Bitcoin. They may not be what we term 'politically correct', but it's refreshing to have people thinking outside the politically correct mainstream way of thinking.
Max Keiser has done much for bitcoin and some people would say he's not politically correct or come to that mentally lol. |
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From that article this is the most important bit regarding Satoshi. "The Financial Crimes Enforcement Network, or FinCen, has signed off regarding online currencies, saying that it would not prosecute their originators so long as no criminal behavior is taking place." That is why he can't come back. If they can't find him "the originator" they can't prosecute him. |
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